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Canada Extends Application Intake for Immigrant Investor Program till 15 April 2015

February 2015, 16
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Canada Immigrant Investor Program
The Government of Canada has extended the application intake date for the IIVC (Immigrant Investor Venture Capital) Pilot Program till 15 April 2015. Now, with this extension period potential candidates will be able to submit their candidatures to the CIC (Citizenship and Immigration Canada) until 15 April 2015.

Sources stated that the pilot program has been condemned in few regions due to the restricted period of application intake. Interested candidates are necessitated to submit the test results to prove language proficiency and credentials of post-secondary education along with the application; hence it is difficult to submit their candidacy in the limited period. Now, the extended period will make it easy for them to submit their application.

Apparently, the pilot program will allow the government to offer permanent residency to 60 high-net-worth overseas investors and their dependents. Canadian government stated that the program is devised to allure highly skilled millionaire investors who can complement the economy.

Supposedly, every investor needs to possess a net worth of $10 million CAD and make an investment (non-guaranteed type) of $2 million CAD for 15 years. The investments will be allotted to new Canadian businesses. 

Purportedly, selected applicants are necessitated to attain a due diligence report to demonstrate that they hold net worth of minimum $10 million from legal and profit-generating business activities. 

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